Search Results

Affective Decision Making Under Uncertainty

Download or Read eBook Affective Decision Making Under Uncertainty PDF written by Donald J. Brown and published by Springer. This book was released on 2021-01-19 with total page 81 pages. Available in PDF, EPUB and Kindle.
Affective Decision Making Under Uncertainty
Author :
Publisher : Springer
Total Pages : 81
Release :
ISBN-10 : 3030595110
ISBN-13 : 9783030595111
Rating : 4/5 (10 Downloads)

Book Synopsis Affective Decision Making Under Uncertainty by : Donald J. Brown

Book excerpt: This book is an exploration of the ubiquity of ambiguity in decision-making under uncertainty. It presents various essays on behavioral economics and behavioral finance that draw on the theory of Black Swans (Taleb 2010), which argues for a distinction between unprecedented events in our past and unpredictable events in our future. The defining property of Black Swan random events is that they are unpredictable, i.e., highly unlikely random events. In this text, Mandelbrot’s (1972) operational definition of risky random unpredictable events is extended to Black Swan assets – assets for which the cumulative probability distribution or conditional probability distribution of random future asset returns is a power distribution. Ambiguous assets are assets for which the uncertainties of future returns are not risks. Consequently, there are two disjoint classes of Black Swan assets: Risky Black Swan assets and Ambiguous Black Swan assets, a new class of ambiguous assets with unpredictable random future outcomes. The text is divided into two parts, the first of which focuses on affective moods, introduces affective utility functions and discusses the ambiguity of Black Swans. The second part, which shifts the spotlight to affective equilibrium in asset markets, features chapters on affective portfolio analysis and Walrasian and Gorman Polar Form Equilibrium Inequalities. In order to gain the most from the book, readers should have completed the standard introductory graduate courses on microeconomics, behavioral finance, and convex optimization. The book is intended for advanced undergraduates, graduate students and post docs specializing in economic theory, experimental economics, finance, mathematics, computer science or data analysis.


Affective Decision Making Under Uncertainty Related Books

Affective Decision Making Under Uncertainty
Language: en
Pages: 81
Authors: Donald J. Brown
Categories: Business & Economics
Type: BOOK - Published: 2021-01-19 - Publisher: Springer

DOWNLOAD EBOOK

This book is an exploration of the ubiquity of ambiguity in decision-making under uncertainty. It presents various essays on behavioral economics and behavioral
Affective Decision Making Under Uncertainty
Language: en
Pages: 88
Authors: Donald J. Brown
Categories: Business & Economics
Type: BOOK - Published: 2020-12-18 - Publisher: Springer Nature

DOWNLOAD EBOOK

This book is an exploration of the ubiquity of ambiguity in decision-making under uncertainty. It presents various essays on behavioral economics and behavioral
Decision Making under Uncertainty
Language: en
Pages: 144
Authors: Kerstin Preuschoff
Categories: Biological psychiatry
Type: BOOK - Published: 2015-06-16 - Publisher: Frontiers Media SA

DOWNLOAD EBOOK

Most decisions in life are based on incomplete information and have uncertain consequences. To successfully cope with real-life situations, the nervous system h
Decision Making Under Uncertainty
Language: en
Pages: 228
Authors: David E. Bell
Categories: Business & Economics
Type: BOOK - Published: 1995 - Publisher: Thomson South-Western

DOWNLOAD EBOOK

These authors draw on nearly 50 years of combined teaching and consulting experience to give readers a straightforward yet systematic approach for making estima
Judgment Under Uncertainty
Language: en
Pages: 574
Authors: Daniel Kahneman
Categories: Psychology
Type: BOOK - Published: 1982-04-30 - Publisher: Cambridge University Press

DOWNLOAD EBOOK

Thirty-five chapters describe various judgmental heuristics and the biases they produce, not only in laboratory experiments, but in important social, medical, a
Scroll to top